Analyst Sees Catalysts for MICROS Systems (MCRS)

Needham & Company high conviction Buy on MICROS Systems (NASDAQ: MCRS) with a price target of $70.00.

“We believe Micros’ end markets are holding firm and earnings expectations remain reasonable, and we see several catalysts in place that could drive sustained earnings upgrades over the next 6-12 months. With the stock trading at 15x (ex-net cash) our CY13 EPS estimate of $2.60, we believe the risk-reward is attractive for a dominant franchise and a 20% EPS grower long term,” said analyst Mayank Tandon.

Specifically, Tandon sees a pickup in the customer upgrade cycle as Simphony (Micro's flagship restaurant product) gains traction, new logo wins, particularly among the global hotel chains (Marriot and Hilton) and a large potential opportunity with Tim Horton’s. He also see market share gains, especially internationally in an increasingly fragmented market.

For an analyst ratings summary and ratings history on MICROS Systems click here. For more ratings news on MICROS Systems click here.

Shares of MICROS Systems closed at $47.61 yesterday.

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